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Quintessence Business Solutions & Services: Streamlining the RCM Workflow

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Nirmal Rajachandran,  Co-Founder and CEO, Quintessence Business Solutions & ServicesNirmal Rajachandran, Co-Founder and CEO, Quintessence Business Solutions & Services
Having an efficient Revenue Cycle Management (RCM) system in place is undeniably as crucial as gaining clinical excellence for healthcare organizations. Not only does it assure their profitability and sustenance but also helps enhance the quality of care. But, unfortunately, RCM has always been a tough grind for most medical facilities. It involves several processes that are highly complex, rife with inefficiencies, and ideally outside the core competencies of healthcare organizations. As such, they often find themselves relying on third-party RCM experts to manage their financials efficiently.

However, medical billing/RCM companies are also not immune to the complexities associated with RCM. With several obsolete technologies retarding their operational excellence, they struggle to streamline the RCM workflow, maximize revenue, and navigate complex payer contracts and opaque adjudication processes. In addition, the rising operating costs, tightening regulatory and reimbursement frameworks, and demand for digital experience are now putting organizations in a tough spot. At times like these, what medical billing/RCM companies need is a reliable partner that can mitigate these challenges and streamline their operations.

Enter Quintessence Business Solutions & Services. Founded in 2011, Quintessence is a rare offshore RCM partner that specializes in providing reimbursementlinked, technology-enabled, outcome-based, meaningful engagements to medical billing companies. “We provide end-to-end RCM services to medical billing companies, empowering them to help healthcare providers gain an efficient financial trajectory,” says Nirmal Rajachandran, the CEO and Co-Founder of Quintessence. “From creating simple, easy-to-deploy, and intuitive technology to counter the massive budgets of payers to managing physician workflows, we’ve left no stone unturned.”

Quintessence’s prominent position in the RCM space stems from its ability to deliver value beyond just the offshore advantages of cost differentials. With more than 20 years in the industry, the company holds in-depth know-how in crafting solutions that deliver a compelling and competitive advantage to medical billing companies, physician groups, and ancillary service providers. Elaborating more on Quintessence’s value proposition, Nirmal mentions, “our technologies are designed to provide immediate benefits, without a commitment to large payouts of precious dollars.”


Our solutions' ability to plug in and wrap around customer platforms and go beyond the plain workflow systems makes us unique in the RCM space

Not just that, designed with high levels of flexibility, the solution suite can be easily customized to deploy transactional support, productivity enhancement, and business intelligence to fulfill clients’ specific requirements.

Quintessence’s product portfolio encompasses three major solutions—Codessence, Reimburssence, and RCM Enhancers—that work with customers PMS/EMR systems seamlessly. Codessence is a proprietary machine learning-based tool that helps coders set new benchmarks in accuracy and speed of coding, while Reimburssence serves as an AR tool to follow-up staff battle wits against powerful payer algorithms. Quintessence’s RCM Enhancers features a full cycle of unique tools that cover all aspects of RCM. “Our solutions’ ability to plug in and wrap around customer platforms and go beyond the plain workflow systems makes us unique in the RCM space,” adds Nirmal.

Furthermore, Quintessence’s tools allow automated support systems for appeals and resubmissions that help augment staff productivity and effectiveness of the follow-up process. While the RCM industry is still relying on transaction counting to followup claims, team Quintessence has taken a strategic turn towards effective touches to closure and algorithm-based claim queue building and allocation.

Unlike a typical RCM services provider, the company guarantees outcomes to customers that onboard with its full services suite. By adopting a contingency or success fee model while collaborating with them, the company aligns with clients’ business and shares their risks and rewards. Dedicated to handhold them to success by growing revenues and protecting profitability, Quintessence treats them as partners and works to the same contractual SLAs that they are subjected to. In one instance, team Quintessence helped a leading wound care specialty in the U.S. eliminate process error and minimize manual intervention, allowing them to reach the 98 percent quality mark and the mandated productivity.

Adhering to its mission to help medical billing/RCM companies grow revenues and protect profitability, Quintessence is expanding its customer service capabilities and onboarding processes by strengthening its front-end operations with a soon to-open center in Dallas, Texas.

The company is partnering with automation companies to implement and build BOTs in house to automate many functions within the revenue cycle and gain an enhanced ability to work with multiple billing systems and EMRs. “The next big thing in our horizon is to offer packaged RCM services by aligning with EMR companies and make it a seamless single source of all service excellence,” concludes Nirmal.

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Top 10 Revenue Cycle Management Solution Companies - 2021

Company
Quintessence Business Solutions & Services

Headquarters
Dallas, TX

Management
Nirmal Rajachandran, Co-Founder and CEO , Quintessence Business Solutions & Services

Description
A rare offshore RCM partner that specializes in providing reimbursement-linked, technology-enabled, outcome-based, meaningful engagements to medical billing companies